Hastings, MN Entrepreneur Gets SBA Loan to Buy Aamco Transmissions Franchise
Need a loan to buy an Aamco Transmissions franchise? Banco Popular North America has a history of making these loans and they are guaranteed by the SBA.
Getting money to buy an Aamco Transmissions franchise requires some effort but others before you have been successful. In 2006, Banco Popular North America issued an SBA franchise loan to an entrepreneur in Hastings, Minnesota. Because Aamco Transmissions was registered with the SBA's registry of franchises, this Minnesota small business loan was issued on an expedited basis.
SBA Loan Borrower
AAMCO TRANSMISSIONS
HASTINGS, MN 55033
SBA Loan Lender
BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019
The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
811111 - General Automotive Repair
Loan Approval Date
9/11/2006
Loan Approval Gross Amount
$25,000
Loan Approval from the SBA
Of the total $25,000 loan amount, the SBA guaranteed $12,500.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was used to buy an Aamco Transmissions franchise. At the time of the loan, the company
had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 4 existing jobs.
Getting an SBA Loan For Your Business
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $25,000 loan. Remember, if it to be, it is up to me!
About This SBA Loan Information:
All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.
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